ALDAR PARTNERS WITH JOHNSON CONTROLS TO LAUNCH ABU DHABI’S FIRST ‘COOLING AS A SERVICE’ PROJECT

• Annual carbon footprint of the cooling baseline to be reduced by up to 30% at Al Rayyana Complex and Eastern Mangroves through Johnson Controls’ ‘Cooling as a Service’ (“CaaS”) solution
• 26,880 tonnes of CO2 will be cut from the Aldar owned and managed assets over a 10-year period
• The project, which will be implemented by Johnson Controls, will be the first CaaS project in Abu Dhabi

Abu Dhabi, UAE – 12 December 2023: Aldar Properties PJSC (“Aldar”) has today announced the launch of a ‘Cooling as a Service’ (“CaaS”) project which will reduce the annual carbon footprint of the cooling baseline at Al Rayyana Complex and Eastern Mangroves in Abu Dhabi by up to 30% over a 10-year period.

The project, managed by Johnson Controls, will utilise energy-saving measures and advanced technologies to cut approximately 26,880 tonnes of CO2 emissions from the two Aldar assets. This initiative will support Aldar to deliver its Net Zero Plan, which includes a science-aligned target of being Net Zero in Scopes 1 and 2 greenhouse gas (GHG) emissions by 2030. Purchased cooling is included within Scope 2 GHG emissions.

Johnson Controls’ CaaS solution is set to transform the built environment, reducing a building's carbon footprint related to cooling by as much as 30%. CaaS is an innovative business-model that aims to make energy-efficient cooling more affordable and accessible, representing a shift from traditional product-centric business models to a service-oriented approach, while also achieving sustainable results. The solution will enable Aldar to outsource the cooling services in its assets, with end-users paying for the cooling they receive, and in turn reducing spend on utility bills and energy use; taking advantage of a solution without risk and upfront capital requirements.

Salwa Al Maflahi, Aldar’s Director of Sustainability and Community Outreach, said: “This new initiative reflects our dedication to ushering in a new era of responsible, forward-thinking real estate management. We understand the importance of sustainable living and we are taking decisive steps to set a higher standard for our industry and inspire positive change on a global scale. We are proud to launch the UAE’s largest ever, and Abu Dhabi’s first, CaaS project and look forward to continuing our partnership with Johnson Controls to realise the carbon reduction.”

“Johnson Controls has always been committed to fostering ecosystems that prioritise the well-being of residents and our planet. We are pleased to be awarded this ambitious contract from Aldar to contribute to its Net Zero vision as it continues to set the benchmark for real estate innovation. Underpinned by our innovative CaaS model, we will be introducing our latest state-of-the-art technologies, expertise, and knowledge in Aldar’s Al Rayyana Complex and the Eastern Mangroves,” said Mohammad Khalid, Vice President and General Manager of Johnson Controls Middle East & Africa. “This partnership represents a shared commitment to creating intelligent and sustainable communities for the future. It is a key example of how we are redefining the cooling landscape in the UAE and regionally. We are excited to work hand in hand with Aldar on this transformative journey.”

The key components of the project include upgrading cooling equipment with energy conservation measures (ECMs), providing premium maintenance coverage, and ensuring fair and accurate billing to tenants of both iconic developments. The CaaS model, implemented by Johnson Controls, places a strong focus on delivering effective outcomes to buildings, representing a departure from traditional product-centric business models in favour of a service-oriented approach.

Both the Al Rayyana Complex and Eastern Mangroves are mixed use developments owned and managed by Aldar. Al Rayana Complex features a three-level shopping mall within the residential destination comprising of 1,500 homes. Eastern Mangroves includes an array of restaurants, leisure outlets, a supermarket and the 5-star Eastern Mangroves Hotel and Spa by Anantara.

Since early 2022, Aldar has invested AED 140 million in various energy retrofit projects, at 61 owned and managed assets. Implemented across five different asset classes, the retrofit projects target 20% energy savings in electricity, water, and chilled water consumption. These projects aim to offset 55,315 tCO2 per year and reduce yearly utility consumption by a total of AED 40 million. Johnson Controls was one of the four Energy Services companies (ESCO) that Aldar has awarded five-year Energy Performance Contracts to support with this project.